This indicator plots standard Bollinger Bands and three configurable moving averages directly on the price chart. Users can toggle the Bollinger Bands, adjust their length and multiplier, and choose between exponential or simple moving averages for fast, slow,
Indicator · Pine Script v4 · On the chart
Weinstein MAs
Weinstein MAs plots adaptive simple and volume-weighted moving averages based on Stan Weinstein's Stage Analysis framework.
GitHub stars1on the repository
Pine versionv4older, still runs
Lines of code18
Settings0inputs
LicenceAGPL-3.0
Last update5 years ago12 Feb 2021
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above, or the copy button on the code below.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
18 lines of Pine Script v4 from weinstein.pine, published under AGPL-3.0. Keep the author's credit and licence lines when you reuse it.
//@version=4
study("Weinstein MAs", overlay=true)
i = timeframe.isweekly ? 10 : 50
i3 = i * 3
i4 = i * 4
p1 = plot(series=sma(ohlc4, i), style=plot.style_stepline, linewidth=2, color=color.new(#75ff9a, 0))
plot(series=vwma(ohlc4, i), style=plot.style_stepline, linewidth=2, color=color.new(#087525, 25))
plot(series=sma(ohlc4, i3), style=plot.style_stepline, linewidth=2, color=color.new(color.yellow, 0))
plot(series=vwma(ohlc4, i3), style=plot.style_stepline, linewidth=1, color=color.new(color.yellow, 25))
plot(series=sma(ohlc4, i4), style=plot.style_stepline, linewidth=2, color=color.new(#f02222, 0))
plot(series=vwma(ohlc4, i4), style=plot.style_stepline, linewidth=1, color=color.new(#f02222, 25))
smaMove50 = sma(high-low, i)
xUpper = sma(close, i) + smaMove50
xLower = sma(close, i) - smaMove50
smaClose50XUpperPlot = plot(series=xUpper, color=color.new(color.blue, 40), style=plot.style_stepline)
smaClose50XLowerPlot = plot(series=xLower, color=color.new(color.blue, 40), style=plot.style_stepline)
fill(plot1=p1, plot2=smaClose50XUpperPlot, color=color.new(#3dae57, 80))
fill(plot1=p1, plot2=smaClose50XLowerPlot, color=color.new(#3dae57, 80))
Overview
On weekly charts, it calculates 10, 30, and 40-period MAs, whereas on non-weekly intervals it uses 50, 150, and 200-period MAs. Both simple moving averages (SMA) and volume-weighted moving averages (VWMA) are rendered as steplines. Additionally, it computes a volatility channel using a high-low moving range offset around the shortest moving average, filling the channel area on the price chart.
- Adaptive moving average lengths based on timeframe
- Dual SMA and VWMA calculations for stage analysis
- Volatility channel fill around the short-term moving average
- Stepline visual style on price chart overlay
Details
Published by
rosskevin on GitHub
Type
Indicator, Pine Script v4
Draws
On the price chart
Category
Trend, Moving averages, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
File
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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